Regular annual Shareholders’ Meeting of Vozrozhdeniye Bank took place on June 23rd 2003

27 June 2003

Dmitriy Orlov, the Bank’s President addressed with the report on the 2002 year’s results.

Representatives of Canadian Imperial Bank of Commerce (CIBC) — one of the Bank’s major shareholders — were also present at the meeting.

Elizaveta Phillipova, director of Pricewaterhouse Coopers Audit gave a positive opinion of the Bank’s activities:

“Vozrozhdeniye Bank can be considered without any doubt as a unique Bank. The Bank has been preparing IAS financial reporting in the course of 11 years being the only bank in the Russian Federation with such IAS practice.”

Members of the Board:

Dmitriy Orlov (in the centre) (from the left to the right): Alexandre Dolgopolov, Deputy Chairman of the Board Mark Nakchmanovich, Deputy Chairman of the Board Dmitriy Strashok, Deputy Chairman of the Board Ludmila Goncharova, Deputy Chairman of the Board Nickolai Orlov, Deputy Chairman of the Board

After the meeting: business discussion between Jack Bradly, Chief of International Finance Department of CIBC and Nickolai Orlov, Deputy Chairman of Vozrozhdeniye Bank (on the right).